November 8, 2016

The Canadian Council for Public-Private Partnerships (CCPPP) is proud to announce that the Southwest Calgary Ring Road project is the Gold Award recipient in the Financing category of the 2016 National Awards for Innovation and Excellence in Public-Private Partnerships (P3s).

This project is vital to the completion of the Calgary Ring Road corridor and consists of new and existing infrastructure – approximately 31 kilometers of new 6 and 8 lane divided freeway including additional and auxiliary lanes. Fifteen kilometers of Priority New Infrastructure will be located on lands that were acquired from the Tsuut’ina Nation.

The Design Build Finance and Operate project had a total project cost of $ 1.4 billion and a $ 700 million Value for Money saving. The project achieved optimization through amortization of costs with the use of medium term financing - a unique feature for a P3 project. Risk allocation has been optimized to achieve significant pass down of risk allowing Alberta Transportation significant opportunities to achieve value for money.

The Awards Panel noted this project involved new and existing infrastructure as well as a unique set of constraints that required an optimization of risk transfer. Panelists also highlighted the innovative hybrid debt financing solution used on the project.

The CCPPP National Awards will be presented on Monday, November 14th, 2016 at the 24th Annual CCPPP National Conference – INNOVATING OUR FUTURE at the Sheraton Centre Hotel in downtown Toronto.